Why Young Adults Aren’t Buying Homes

First-time home buying by young adults is way down, according to a new white paper by the New York Fed and an annual report by the Joint Center for Housing Studies of Harvard University. The Fed data show that only 9 percent of 29-to-34-year-olds got a first-time mortgage from 2009 to 2011, compared with 17 percent 10 years earlier. The Harvard study sh…